Katara Hospitality recently confirmed acquisition of five properties in key European cities from a private investor. The company has acquired InterContinental Carlton Cannes, InterContinental Amstel Amsterdam, InterContinental Madrid, InterContinental Frankfurt, and the leasehold interest in the InterContinental De La Ville Rome.
The acquisition brings Katara Hospitality’s global portfolio to 32 hotels operational or under development, topping its long-established goal of 30 properties by 2016.
His Excellency Sheikh Nawaf Bin Jassim Bin Jabor Al-Thani, chairman of Katara Hospitality said: “This deal provides a major expansion of our footprint, both geographically and in terms of our hotel operator partners.”
Elaborating further Hamad Abdulla Al-Mulla, chief executive officer and board member of Katara Hospitality said: “We will look to commit investment funds for necessary renovations or refurbishments, as we do across our portfolio.”
The company now has properties or projects in 14 countries, with a total of 7,103 rooms operational or under development.
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